Franklin Federal Correlations

Mutual Funds . USA . 
Fund . Franklin Federal Tax Free
FFQAX Fund  USD 10.79  0.02  0.19%   
The current 90-days correlation between Franklin Federal Tax and Us Government Securities is 0.67 (i.e., Poor diversification). The correlation of Franklin Federal is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Franklin Federal Correlation With Market

Average diversification

The correlation between Franklin Federal Tax Free and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Federal Tax Free and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franklin Federal Tax Free. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Franklin Mutual Fund

  0.75TEBIX Franklin Mutual BeaconPairCorr
  0.76TEDIX Franklin Mutual GlobalPairCorr
  0.76TEDSX Franklin Mutual GlobalPairCorr
  0.76TEDRX Franklin Mutual GlobalPairCorr
  0.81TEGBX Templeton Global BondPairCorr
  0.73TEGRX Templeton GrowthPairCorr
  0.81TEMGX Templeton Global SmallerPairCorr
  0.75TEMEX Franklin Mutual BeaconPairCorr
  0.64TEMMX Templeton EmergingPairCorr
  0.79TEMWX Templeton WorldPairCorr
  0.71TEMTX Franklin Mutual SharesPairCorr
  0.94FQCTX Franklin Necticut TaxPairCorr
  0.7SAIFX Clearbridge Large CapPairCorr
  0.74SAGYX Clearbridge AggressivePairCorr
  0.65TEMZX Templeton EmergingPairCorr
  0.94FQCHX Franklin Templeton SmacsPairCorr
  0.72TEPLX Templeton GrowthPairCorr
  0.79TWDAX Templeton WorldPairCorr
  0.71TESIX Franklin Mutual SharesPairCorr
  0.81TESGX Templeton Global SmallerPairCorr
  0.71TESRX Franklin Mutual SharesPairCorr
  0.75LGIEX Qs International EquityPairCorr
  0.99FQLAX Franklin Louisiana TaxPairCorr
  0.79TEWTX Templeton WorldPairCorr
  0.76SAPYX Clearbridge AppreciationPairCorr
  0.74SASMX Clearbridge Small CapPairCorr
  0.99FQNCX Franklin North CarolinaPairCorr
  1.0FQMDX Franklin Maryland TaxPairCorr

Moving against Franklin Mutual Fund

  0.73WAADX Western Asset SmashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Federal Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Franklin Federal's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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